Prudential PLC Makes New Investment in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Prudential PLC has acquired a stake in Cullen/Frost Bankers, Inc., purchasing 46,477 shares valued at approximately $5.8 million during the first quarter.
• The bank's quarterly earnings surpassed expectations, reporting $2.39 earnings per share against a consensus estimate of $2.28, with revenues of $567.83 million.
• Cullen/Frost Bankers has declared a quarterly dividend of $1.00 per share, translating to an annual yield of 3.2%, with the next payment scheduled for September 15th.

Prudential PLC acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,477 shares of the bank's stock, valued at approximately $5,819,000. Prudential PLC owned approximately 0.07% of Cullen/Frost Bankers as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CFR. Nuveen LLC purchased a new position in Cullen/Frost Bankers in the first quarter worth $12,885,000. Benjamin Edwards Inc. lifted its holdings in Cullen/Frost Bankers by 12.3% during the 1st quarter. Benjamin Edwards Inc. now owns 4,306 shares of the bank's stock worth $539,000 after purchasing an additional 472 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Cullen/Frost Bankers by 4.3% in the first quarter. Townsquare Capital LLC now owns 6,715 shares of the bank's stock valued at $841,000 after acquiring an additional 279 shares during the period. LaSalle St. Investment Advisors LLC increased its holdings in shares of Cullen/Frost Bankers by 4.0% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock worth $271,000 after purchasing an additional 84 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in Cullen/Frost Bankers in the 1st quarter worth approximately $230,000. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Up 1.2%

NYSE:CFR traded up $1.48 during trading hours on Monday, reaching $125.60. 244,794 shares of the company traded hands, compared to its average volume of 439,918. The stock has a market capitalization of $8.08 billion, a P/E ratio of 13.51, a P/E/G ratio of 2.62 and a beta of 0.70. The business's 50-day moving average price is $130.15 and its two-hundred day moving average price is $127.47. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.11. The company had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays cut their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Stephens boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada dropped their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Raymond James Financial lowered their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Finally, Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $133.71.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.